for example, defensive stocks leading. banks and auto weak. the challenge for professional asset allocators is not to read too much into that. not too make too much into one day's action. >> dan we're going back and forth about this earlier, but is there a first day of the month gauge, in other words, the fact we were down yesterday, the fact we're down today, does that tell you something here? >> no. i think there's a lot of statistical incision here alal insignificant. >> if you look back september 2012 first two days of the month were down and the rest of the month was up 2.4%. there's no correlation there. i expect whatever happens in december has no bearing on these first -- it's not related -- >> if it's not about, you know the timing in terms of the month, if it's not -- if we shouldn't read too much into the last couple of trading sessions, where should we look right now for guidance? >> look at what happened today? one, europe down. very hard in the morning. actually going into the close. we found out the reason for that. that was bec